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A closer look at EM bank lending

Weekly investor research

10 December 2018

EM is nearly 50% of global GDP, but EM countries have only issued 22% of the world’s outstanding bonds, so there is widespread recognition that EM countries are healthier than developed countries when it comes to bond debt. But what about bank lending? How much do EM countries rely on bank financing? How have trends changed over time and across regions? This Weekly takes a closer look at bank lending in EM and concludes EM countries have generally not binged on bank credit. Bank credit has grown faster within the upper-middle income segment than in other parts of EM, but even within this group, very few countries appear to have borrowed in an irresponsible manner.

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